This is my first post and I'm an avid reader at this forum. I just wanted to post some information that might not have been discussed regarding the Iraq war. I came across this write up from the Independent Media Center.
http://www.rense.com/general34/realre.htm.
Some of it makes sense and I think some people here might be interested. I'll copy some small excerpts.
It seems likely that this could be a large motivating factor for this war and one that was definitely not discussed in the media. I don't know if anyone is a macroeconomics major, but it would be interesting to hear from your expertise on this subject and maybe shed some light on whether this argument is sound or not?
Thanks.
http://www.rense.com/general34/realre.htm.
Some of it makes sense and I think some people here might be interested. I'll copy some small excerpts.
If Iraq's WMD program truly possessed the threat level that President Bush has repeatedly purported, why is there no international coalition to militarily disarm Saddam? Secondly, despite over 300 unfettered U.N inspections to date, there has been no evidence reported of a reconstituted Iraqi WMD program.
The Federal Reserve's greatest nightmare is that OPEC will switch its international transactions from a dollar standard to a euro standard. Iraq actually made this switch in Nov. 2000 (when the euro was worth around 80 cents), and has actually made off like a bandit considering the dollar's steady depreciation against the euro." (Note: the dollar declined 15% against the euro in 2002.)
The real reason the Bush administration wants a puppet government in Iraq - or more importantly, the reason why the corporate-military-industrial network conglomerate wants a puppet government in Iraq - is so that it will revert back to a dollar standard and stay that way." (While also hoping to veto any wider OPEC momentum towards the euro, especially from Iran - the 2nd largest OPEC producer who is actively discussing a switch to euros for its oil exports).
Otherwise, the effect of an OPEC switch to the euro would be that oil-consuming nations would have to flush dollars out of their (central bank) reserve funds and replace these with euros. The dollar would crash anywhere from 20-40% in value and the consequences would be those one could expect from any currency collapse and massive inflation (think Argentina currency crisis, for example). You'd have foreign funds stream out of the U.S. stock markets and dollar denominated assets, there'd surely be a run on the banks much like the 1930s, the current account deficit would become unserviceable, the budget deficit would go into default, and so on. Your basic 3rd world economic crisis scenario.
It seems likely that this could be a large motivating factor for this war and one that was definitely not discussed in the media. I don't know if anyone is a macroeconomics major, but it would be interesting to hear from your expertise on this subject and maybe shed some light on whether this argument is sound or not?
Thanks.